2011-06-21-AC-min - Laserfiche WebLink

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Minutes Town of Lexington Appropriation Committee June 21, 2011 : Cary Hall, Ellen Stone Room, 7:30p.m. : Glenn Parker, Chair; Joe Pato, Vice Chair; John Bartenstein, Vice Chair and Secretary; Mollie Garberg; Susan McLeish;Eric Michelson; Richard Neumeier; Rob Addelson (non-voting, ex officio) Also present: Deb Mauger, Lexington Selectman The meeting was called to order at 7:40p.m. 1.Minutes. Minutes from the 5/17/11 meeting were approved bya vote of 6-0. Summit meeting minutes from 11/18/10, 12/21/10, 1/19/11, and 2/10/11 were approved bya vote of 6-0. Staff Reports. 2. Sale of Notes. Mr. Addelson reported thatthe Town sold bond anticipation notes on th June 14in two groups: the firstin the amount of roughly $1.478m for facilities due 2/2012; the second in the amount of roughly $1.48m for school projects due 7/2012. He described how the notes work and noted that interestrate for the winning bid was in each case less than 0.5%.The BOS approved the sale of the notes. New Budget Officer: Mr. Addelson reported that the hiring process for a new Budget Officer hadbeen completed. The candidate selected, Theodore Kalivas, will be starting August 1.Micah Niemywill be leaving later in August to pursue a Masters in Public Administration. Revolving Fund Spending Limit Increases. 3.Mr. Addelson requested the Committee’s approval of increases to the spending limits established for FY 2011 at the 2010 Annual Town Meeting for two of the Town’s revolving funds. Under G.L. c. 44, § 53E ½, mid-year increases in the spending limit may be approved by joint action of the Appropriation Committee and the Board of Selectmen. Public Facilities Rental Revolving Fund. The Committee was asked to endorse an increaseof the $275k limit established at the 2010 Town Meeting to $350k for an increase in rental related expenses.Revenues from building rentals are more than sufficient to supportthe increase. Peg TV Revolving Fund.The 2010 Town Meeting adopted a spending limit of $400k for this fund and the increase would be to $430kto cover an increase in indirect costs for the LexMedia facility at Avalon Bay. The primary expenditure is the contract the Town has with LexMedia and there is enough revenue from the cable franchise fees to support the increase. 1